In: Statistics and Probability
John is the manager for the soft drink category at Coke Cola in the MENA region. He believed that the demand of Coke (in cases) is only closely related to its price (in dollars). To develop a better understanding of the relationship between the demand and the price of Coke Cola he collected the following data from a random sample of 9 countries in the MENA region.
Price of Coke (x) |
Demand (y) |
X2 |
Y2 |
XY |
||
7 |
1.5 |
|||||
2 |
1.0 |
|||||
6 |
1.3 |
|||||
4 |
1.5 |
|||||
14 |
2.5 |
|||||
15 |
2.7 |
|||||
16 |
2.4 |
|||||
12 |
2.0 |
|||||
7 |
1.7 |